An example of a poverty trap is:
A. the uneducated not knowing how to further develop their economy.
B. those who do not have basic immunizations not being healthy enough to develop their economy.
C. the malnourished not having enough energy to develop their economy.
D. All of these are examples of poverty traps.
Answer: D
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Which of the following examples best describes the Law of Diminishing Marginal Benefit?
A) If a seller of notebooks in a perfectly competitive market charges above the market price, his profit decreases. B) With each additional pen Jill buys, her willingness to pay for another pen decreases. C) Each additional unit of ice cream that John consumes gives him more and more satisfaction. D) If the weather gets cold, the demand for ice cream will fall.
As long as the practice does not restrict competition, he European Union competition law considers all of the following permissible except which one?
A) resale price maintenance B) exclusive dealing contracts C) price discrimination D) tying contracts
A nation practicing mercantilism aims to
a. keep the government out of the economy. b. establish an excess of exports over imports. c. balance imports with exports. d. replace gold and silver with paper money. e. reduce the size of the military sector.
If equilibrium in the economy is merely a function of aggregate demand, the aggregate supply curve must be:
a. upward-sloping. b. downward-sloping. c. in the Keynesian region. d. vertical. e. at the full-capacity level.